Gem Dealer

The government rolled back its notification dated August 23 that classified dealers in precious metals, precious stones and other high value goods as persons carrying on designated business and professions under the Prevention of Money Laundering Act (PMLA), 2002.

A fast track court in Thiruvananthapuram today found five persons, including three engineering students, guilty of murdering a gem dealer in December 2012.

Gold's drop to a four-month low this week attracted buyers in Asia but dealers were doubtful the demand would last as consumers may be waiting for the market to go even lower. In India, despite muted demand, premiums jumped to $120 an ounce from $80 last week because of a supply crunch caused by government restrictions on imports.

Shares in jewellery companies, including Gitanjali Gems extended gains for the second day on hopes of a spike in jewellery sales ahead of the festive season in India, several dealers said.

The government rolled back its notification dated August 23 that classified dealers in precious metals, precious stones and other high value goods as persons carrying on designated business and professions under the Prevention of Money Laundering Act (PMLA), 2002.

A fast track court in Thiruvananthapuram today found five persons, including three engineering students, guilty of murdering a gem dealer in December 2012.

Gold's drop to a four-month low this week attracted buyers in Asia but dealers were doubtful the demand would last as consumers may be waiting for the market to go even lower. In India, despite muted demand, premiums jumped to $120 an ounce from $80 last week because of a supply crunch caused by government restrictions on imports.

Shares in jewellery companies, including Gitanjali Gems extended gains for the second day on hopes of a spike in jewellery sales ahead of the festive season in India, several dealers said.